Toyota to raise hybrid share to 30% of China sales

Toyota Motor Corp. plans to raise the proportion of hybrid vehicles in its passenger car sales in China to around 30 percent by 2020, Senior Managing Officer Hiroji Onishi said Tuesday.

Speaking at a press conference held at the Shanghai International Automobile Industry Exhibition, Onishi also said Toyota will launch by the end of this year an electric vehicle developed by a Chinese joint venture with Guangzhou Automobile Group Co.

Toyota is boosting efforts for environment-friendly cars as the Chinese government has introduced regulations to require automakers to improve their average fuel efficiency by 50 percent by 2020 to reduce air pollution.

It will be harder to meet the regulations if sales are geared too much toward highly popular sport-utility vehicles.

The hybrid proportion currently stands at 5 percent for the mass-market Toyota brand and nearly 30 percent for the luxury Lexus brand.

SUVs, as well as midsize or larger sedans, have fat profit margins and play a key role in Toyota’s portfolio, said Onishi, who is in charge of Toyota’s Chinese business. Toyota hopes to keep a balanced portfolio by increasing the hybrid lineup and raising the fuel efficiency of SUVs, he said.

At the ongoing Shanghai show, Toyota has unveiled two new hybrid models developed in China.

Ex-exec named to BOJ board

Jiji Press

The government on Tuesday nominated Yukitoshi Funo, a former vice president of Toyota, as a new member of the Bank of Japan’s Policy Board.

The nominations of Funo and 17 others for key posts at a total of nine public bodies were presented to the Diet on the same day. The Diet is expected to endorse the appointments during the ongoing ordinary session.

Funo, currently a Toyota adviser, will replace Yoshihisa Morimoto, whose term as a BOJ Policy Board member will expire at the end of June

The Japan News 

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